GUESS India 2023 survey report of IIT Mandi highlights strong entrepreneurial spirit in Indian students | Current Affairs | Vision IAS
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GUESS India 2023 survey report of IIT Mandi highlights strong entrepreneurial spirit in Indian students

Posted 22 Oct 2024

2 min read

Survey is part of global research project involving a comprehensive survey on student entrepreneurs in 57 countries worldwide.

Major Trends Highlighted by Report

  • Nascent Entrepreneurship: According to survey, As many as 33% of college students in India are already nascent entrepreneurs, which is higher than global average of 26%.
  • Entrepreneurship as an emerging career choice: 14% students in India intend to become entrepreneurs after graduating. 
  • Entrepreneurship intent: Indian students show highest entrepreneurial intent globally.

Factors propelling Entrepreneurship among Students

  • Favorable Macroeconomic Environment: India ranks 39th (out of 133)  in Global Innovation Index 
  • Thriving Startup Ecosystem: India has 110+ unicorns (startups valued at over $1 billion), third-largest after USA and China.
  • Educational Ecosystem (Offering diverse and specialized courses) & Supportive Government Initiatives (refer to box)

Existing Challenges

  • Low Active Entrepreneurs: Due to lower transition of nascent ventures to active businesses. 
  • Limited reach and accessibility: Regarding Entrepreneurship education and incubation programs. 
  • Others: Mismatch between support Programmes and requirements of student ventures etc.

Way Forward

  • Encouraging Entrepreneurship during education through compulsory courses in universities, etc.
  • Further expansion of the incubation network to provide mentorship, funding, etc.

Supportive Government Initiatives

  • NIDHI Umbrella Programs (2016): Department of Science and Technology establishes a wide network of incubation centers and start up support programmes. 
  • Atal Innovation Mission (2016): Provides for atal tinkering labs to foster innovation at school level. 
  • National Innovation and Startup Policy (2019): Aims at strengthening innovation and entrepreneurial ecosystem in campus.
  • Tags :
  • Atal Innovation Mission
  • Student Entrepreneurship
  • NIDHI Umbrella Programs
  • National Innovation and Startup Policy
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